Comments on: Recurring Monthly Costs: Which Are Worth It? Which Are Not?http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/
Common sense advice on money saving tips, how to get out of debt, high interest savings accounts, cd rates, money market accounts, mortgage rates, money management and more.Thu, 08 Dec 2016 20:37:00 +0000hourly1https://wordpress.org/?v=4.5.3By: wjglennhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-213421
Thu, 17 Dec 2009 06:18:57 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-213421I think about entertainment costs a different way – even if they are recurring. It helps me to think in terms of entertainment value by cost/hour.

Take World of Warcraft, for example. $15/month isn’t really a bad deal if you compare it to other forms of entertainment. Going to see a movie at the theater would cost you $7 (or more) for 2 hours of entertainment.

If you’re playing even just 6 hours/month of WoW, that’s only $2.50 per hour. Cheaper than renting DVDs, really. If you spend your time playing it instead of watching TV, you could even cut out your cable TV and just play WoW instead.

I don’t actually play WoW. Just using it as an example. I am an avid game player and give myself a monthly budget, whether that is for buying new games or paying subscriptions.

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]]>By: Save on Cell Phones with Employee and Student Discounts ? Get Rich Slowlyhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-166098
Wed, 04 Feb 2009 21:00:44 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-166098[…] To verify eligibility, these websites will ask you to enter your e-mail address. If your employer (or school, in some cases) qualifies, you may receive discounted plans or equipment. It’s a quick and easy way to reduce recurring montly costs! […]

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]]>By: La BellaDonnahttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-163365
Wed, 14 Jan 2009 21:28:44 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-163365I don’t have a lot of money available to me; when I moved, and found that all the cable programs I like were in the most expensive tier, so that I had to pay for everything else, TOO, that was it. It was easy; I could watch TV, or pay my electric bill. No more TV for me! I do have two recurring subscriptions – I guess they’re subscriptions: one is for my Transpass, which I need to get to work, so I’m not cancelling that any time soon; the other is for my gym membership. Every once in a while, something comes up and I don’t go for a month or two, but I’m normally there five days a week, and have been for years, so I don’t consider that a money sink at all, for me.

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]]>By: brooklynchickhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-151455
Sun, 12 Oct 2008 21:33:41 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-151455I’ve been making resolutions about cutting costs for quite a while, and then about a year ago started reading personal finance books and blogs. JD, I just had to report that yesterday I cancelled monthly costs of more than $80/month – that’s almost $1,000 per year! I spent a few hours cancelling things (funny how easy it is to subscribe to things, and how long it takes to UN-subscribe), and I felt SO GREAT after!

Thanks as ever for all your wise advice!

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]]>By: Bobhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-135133
Thu, 05 Jun 2008 12:58:37 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-135133I also called XM today and said I would need to cancel unless I could get the $77/year plan again. They said fine.

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]]>By: aziza xhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-134032
Tue, 27 May 2008 16:09:22 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-134032I don’t know if you are still interested in mmos or not but Perfect World is a great mmo that’s absolutely free. It has great graphics, good missions, etc. The only downside is the English is not as great as it could be.

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]]>By: The Power of Positive Cash Flow ? Get Rich Slowlyhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-115971
Tue, 05 Feb 2008 13:01:19 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-115971[…] Recurring expenses can be especially insidious. Long-term contracts and installment plans often contribute heavily to negative cash flow. If you truly need to make a major purchase, save the money to pay in full. Don’t buy things you cannot afford. […]

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]]>By: Sandyhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-103280
Wed, 31 Oct 2007 18:13:45 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-103280My local library sells magazines for 1/4 the cost or less of the reg. price and they always have stacks of New Yorkers. At the other local library, you can check out as many magazines as you want to – no limit. Have you tried your library to see if they carry New Yorker magazine? Worth a phone call.

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]]>By: Cutting out monthly fees to save moneyhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-102049
Tue, 23 Oct 2007 15:26:23 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-102049[…] you want to save money, one of the easiest ways is to cut out monthly subscriptions to stuff you don’t use that much. It doesn’t have to feel like deprivation. My top suggestions […]

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]]>By: LChttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101845
Mon, 22 Oct 2007 13:23:20 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101845I called XM on Saturday and received 12 months of service for $77. That comes out to about $6.41 a month as opposed to $12.99. I am very pleased!!

]]>By: Build Wealth Bloghttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101528
Fri, 19 Oct 2007 20:03:29 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101528It was bad enough before the internet with things like gym memberships you never made full use of and subscriptions to magazines you hardly ever read, but now every time you go online you’re constantly finding membership sites and service providers persuading you to part with your money every month.

Also the annoying thing about online memberships if that you often forget about them and end up paying the fees for several months before you get round to cancelling them.

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]]>By: Lordhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101523
Fri, 19 Oct 2007 19:46:01 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101523Recurring monthly costs are for the financially illiterate. One can’t do without them entirely, but one must make absolutely sure they are worth the cost and review them periodically to make sure they still are.

I capitalize the cost to compare with other products I might buy. Using a 5% cap rate, 12*$10/5% is $2400, a true lifetime cost for a lifetime benefit. Is it worth it to me? Only a very few are. Would love to have an Tivo HD, but it isn’t offered with a lifetime subscription and it will never be worth what it costs to me.

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]]>By: 144mphhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101478
Fri, 19 Oct 2007 16:08:20 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101478I try to run my finances like I would a business and one of the cardinal rules of business ownership is to attempt to reduce variable expenses.

I would go out of my way to pay for monthly expenses like gym membership and insurance up front if I was getting a discount so that I wouldn’t have the monthly obligation. It’s much harder to budget with a bunch of monthly bills, not to mention the hassle of paying them or keeping track when the charges are applied to accounts.

Great post.

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]]>By: Aaron Davidsonhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101452
Fri, 19 Oct 2007 14:58:06 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101452I am another person who loves XM, when I got my new car it came with 3 free months, I did not plan on subscribing afterwards. At the time I was making a long commute each day (64miles each way) and had to switch radio stations 3 times. I was listening to NPR quite a bit, but then switched to XM.

They offer XMPR which features some NPR programs but not your local. I do not drive as much now but XM is great and find it hard to go back to regular radio which I never listened to very much.

Here are some recent interesting posts from the MoneyBlogNetwork and beyond: Five Cent Nickel is a deadbeat. 😉 Blueprint for Financial Prosperity reviews Negotiation Genius. No Credit Needed lost his wallet. Get Rich Slowly wonders which recurring mo…

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]]>By: FinanceAndFathttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101374
Fri, 19 Oct 2007 03:44:14 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101374I have recently started a personal battle against subscription fees. It’s just too easy to rack up a bunch of them that really drain your budget.

I agree that we need some, but I find for myself that I get excited about some new thing, subscribe, and then hardly pay attention to it a few months down the road. It is very true that you can cut out a lot of these services and not even miss them.

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]]>By: MikeVxhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101327
Fri, 19 Oct 2007 01:25:37 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101327My recurring costs are constantly being reviewed for ways to cut down. I have ONE magazine subscription, and one financial newsletter subscription that I’m going to let lapse because it doesn’t give me anything I can’t get from the online PF community.

I have the minimum possible cable TV, solely because Comcast charges more for internet only. I keep that to a minimum by calling in every time the latest promotion expires and quoting them the last rate quote I got from AT&T. I have a hard limit on the cost of internet service, the day I can’t drop Comcast below that limit is the day I go with whoever else I can find.

My cell phone service is a time block somewhat more than I use in a month, the next block down is less than that, so it is the best balance I can manage.

My home phone is a VoIP service, $25/month for effectively unlimited calling to anywhere I’m likely to call. This is handy for talking to friends in places like Canada or Germany.

Then there are things that are worth the money. I have an on-line storage service that I use to keep encrypted copies of my various electronic records in case of problems at the house.

I am taking an on-line course in Japanese, this is self-paced, no grades or such. This is a course that you take because you want to learn, and even though my usage is uneven, it is there when I have time and I have access to teaching staff for questions. It is worth the $19.95/month for the flexibility. Convenience does have value. Also, this particular expense qualifies both as education and entertainment.

]]>By: Edhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101226
Thu, 18 Oct 2007 20:11:04 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101226First of all, XM Radio is very good… I love the music stations, and the fact that there is CNN and Air America is fantastic. Here’s what I did. I got 3 months free from buying a car with XM installed, and then I called to cancel stating that I didn’t listen enough. They said that they would give me another 3 months to decide if i want to keep it at a 50% discount. At that point it was around $6.50 per month. I accepted it for 3 months, and then did the same a short while later.

I can’t figure out how to get rid of Comcast, however… I have an HDTV and I have become addicted to the DVR services. I am gone during the week for business, so recording the shows in HD is great. I don’t know if I can do away with the service, as much as I hate paying their fees. Why oh why does HDTV have to be so fantastic and expensive?

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]]>By: Rob in Madridhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101220
Thu, 18 Oct 2007 19:57:06 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101220For free music you can’t beat yahoo music. I love it and it’s free. There are some small downsides to the free service, after about 15-20 mins it cuts out (unless you’ve rated a song) and you have to listen to the odd comerical (usually the same one) but no DJ and best of all even in the free service you can rate your songs and skip the ones you don’t like.

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]]>By: Peterhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101174
Thu, 18 Oct 2007 18:34:23 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101174your point about cable costs is valid. I find there are only 2 shows a week that I actually enjoy watching and watch regularly. And for that I have to pay upwards of 60$ a month!? Seems stupid to me. I could probably get these shows on itunes or similar web based services for a lot less! And since most computers come with a tv-out connection .. could easily watch these in normal living room situation with little setup.
heck a lot of shows are available for free on the networks website the day after airing anyway. 😀
let see 60*12=720$ that’s enough for a plane ticket a year. i’ll take that instead.

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]]>By: plonkeehttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101148
Thu, 18 Oct 2007 18:01:20 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-101148Everyone that’s suggested Pandora is a genius. How could I not have found this before?

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]]>By: Alidahttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-100938
Thu, 18 Oct 2007 05:36:33 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-100938I have cut down on reoccuring expenses. We now rent movies from the library, we cut down cell phone bills. ( btw instead if calling 411, on cell phines dial 1800-FREE 411. FREE 411 service! You do have to listen to a quick commercial but it says lots of cash. I use to spend $25 a month on just 411!

we have cut ALL magazine subscriptions! It would just clutter my home and made me feel inadequate as a mother, wife and decorator! I even quit my starbuck habit! sniff sniff. The things we do for retirement savings. Sigh

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]]>By: a westhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-100929
Thu, 18 Oct 2007 02:39:58 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-100929I agree that limiting recurring monthly expenses is key. One of our expenses we have recently cut is our subscription to the NY Times. Previously, we received it 7 times/week for over $50/month (after an attractive intro price). I’ve been wanting to cancel it for a while, but my husband devours the editorial section which one could not access on the internet without a subsription. However, recently they’ve opened up their entire website for free, so we have been able to cut the subscription so the times just comes on Saturday and Sunday (you can’t cancel the Sunday times!).

The newspaper costs me $11 a month. That comes out to $132 a year. It’s definitely worth it for me. I use coupons and the amount I save with coupons is more than I spend on the paper. I could just get the Sunday paper delivered for $9 a month, or drive to the store and pick up a double edition (twice the coupons!) for $2 each, but I read four sections of the paper everday, and more on Sunday.

The gym. For me, again, it’s worth it. 24Hour Fitness has a corporate membership which I’m available for, so I get a discounted rate, and I didn’t pay sign-up fees. I did opt for the “multiple gyms” membership instead of the “single gym” membership. I use two of the gyms near me, two by my parent’s home, and another in Northern California whenever I travel. I attend the yoga classes regularly, and some of the other classes. I currently pay $35 a month ($420 a year.) It’s pretty steep, but I use the gym often. When I signed up, I opted for the monthly plan because I wanted to make sure I would continue to use the gym. Now that I have, I’ll be paying a $600 lump sum for three years ($16.67 a month) and if I’m still with the gym after that, my month rate goes to $5 a month. The $600 plan is now an excellent deal for me.

Blockbuster. Oh, dear. This is where it’s dangerous. I chose Blockbuster over Netflix because of the “Return to Store” option, plus there was a special offer. I’m on the three movies at a time plan, at $19.38 a month, and can end up with seven or eight movies in a week. I calculated that I’ve spent $1.36 per movie. BUT I gotta look at the big number: $155.04. Ouch. Yeah, the per unit cost is cheap, but the overall cost is not. My schedule is going to get busy again in the next few months, so I may not be able to keep up my movie watching pace. I’m thinking I’m gonna cancel my Blockbuster Online account – I can always sign up again later.

The key thing for me when it to comes to monthly costs: how much is it costing overall?

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]]>By: jerryhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-100911
Thu, 18 Oct 2007 00:42:35 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-100911I’m surprised XM is still in business–i beleive there is a merger in the works w/sirius–my bet is XM wont last much longer either–there are some great free streaming radion on the web–i say dump it!

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]]>By: J.D.http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-100866
Wed, 17 Oct 2007 20:54:47 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-100866Okay — I’m trying Pandora now. (The “A Fine Frenzy” channel, actually, since that matches my mood right now, instead of the “fake Fred” channel.) After seeing this, I realize I tried Pandora two or three years ago. I’m not sure why it’s never occurred to me to try it again…

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]]>By: cmahlumhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-100863
Wed, 17 Oct 2007 20:46:18 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-100863I have to agree how frustrating those monthly expenses are…. but XM radio? unless you spend a significant amount of time in your car, I think that one is tough to justify, especially with internet radio….
my only existing monthly bills are the YMCA ($41), which I use a few times a week… and I consider a very reasonable “investment” into my standard of living as far as health and stress reduction… I sure feel great after my wednesday night Ashtanga yoga class…
and the other bill is Verizon ($50)… I do not have a home phone, so the cell phone is necessary to communicate. I have magazine subscriptions that amount to about $7 a month if you break it down…. that’s roughly a dollar a magazine… I cut drop those, but I get so much out of the magazines, and usually pass them along to friends and coworkers once I’m done….

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]]>By: Jonathanhttp://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-100862
Wed, 17 Oct 2007 20:46:04 +0000http://www.getrichslowly.org/blog/2007/10/17/recurring-monthly-costs-which-are-worth-it-which-are-not/#comment-100862“As it stands, am I willing to spend $10/month for XM, and then pay for a receiver? How about $8/month for the streaming web version? I don’t know.”

I have this argument with my friends when they’re tempted to get satellite radio– Why not buy 1 or 2 albums a month instead of a radio subscription? At the end of 1 year, you’ll have a well started music collection to show for your money rather than NOTHING. For the same amount of money, the pros/cons of buying albums far outweighs any satellite radio subscriptions, in my opinion.